An Oligopoly Exists When Firms in an Industry Are So

question 243

True/False

An oligopoly exists when firms in an industry are so small and numerous that no one is powerful enough to dominate the market.

---

Definitions:

Tortilla Chips

Crispy snack food made from corn tortillas cut into triangles and then fried or baked.

Fungus

A group of eukaryotic organisms, which include yeasts, molds, and mushrooms, that live by decomposing and absorbing the organic material in which they grow.

Input Costs

The expenses incurred to purchase the raw materials, labor, and other resources needed to produce goods or services.

Hair Replacement

A set of medical or cosmetic techniques aimed at restoring hair to balding or thinning areas of the scalp.